Buying Property with a Radio Tower on it Real Estate |
- Buying Property with a Radio Tower on it
- Buying a home, and the seller wants continued access to shed...what do I do?
- Relocating. Need advice for how to buy a new house before selling current home.
- Property tax reassessment after Jan. 1st
- Looking for recommendations for tech savvy agents in Dallas area
- Buyers Home Inspection on Monday. Anything else we should look for , that wouldn’t already be covered during a routine inspection?? First time home buyers [MA]
- With trump making Jerusalem Israel territory, will that make property owned by Palestine go any higher since they have less properties now?
- Convert a Multi Family back to Single Family?
- Can someone in their late 20's with poor credit and no money for a down payment get a house? [NH/MA]
- Planning on selling first house
- Home owners insurance question?
- I would like to flip houses. How do I find the right home?
- What are my options re: foreclosure in NJ?
- [TX] Bought house with brother three years ago, wanting to sell my half. Problems?
- I’m currently renting. Lease is up in July. I’m a first time homebuyer. When do I start talking to realtors? 4 months before lease is up? Now? Is it too early?
- [Colorado] Building a house - can an increased value since signing be used toward a down payment?
- First Time Seller, Question about Mold Disclosure and remediation (WI)
- Looking for an asset management program with app/Mac/pc cross platform sharing
- [Denver] First Time Homebuyers moving to Denver for Spouse's Medical Fellowship/Residency. Can we afford what we're looking for?
- Is it a problem to get financing if you sell a house over appraisal value even if buyer is putting 50% cash down?
- Looking for advice in NY
- Buying a condo with an ARM-- too much risk? [MS]
- Buying contingent on house sell
| Buying Property with a Radio Tower on it Posted: 09 Dec 2017 07:14 PM PST So I am looking at a plot of land for myself, the price is good but the only problem is there is a cell tower on it and the listing agent told me there is no longer a revenue stream for the owner of the property. So does this mean the current owners settled for a buyout or possibly never renewed the lease agreement? What concerns should I be aware of if the lease is no longer owned by the land owner? [link] [comments]  |
| Buying a home, and the seller wants continued access to shed...what do I do? Posted: 09 Dec 2017 05:26 AM PST Hey folks, We are in a bit of a pickle.... My fiancee and I found a house that we love. We are first time home buyers. It's on 15 acres, has been on the market for 500 days, and we are the only serious buyers in those 500 days. It belongs to a couple that is going through a divorce. She still lives in the area, and he moved 1000 miles away. We did the whole negotiating thing, and they stuck with a price, and we came up quite a bit to meet them at that price. Good. This was a verbal agreement, no paperwork has been signed. No comes the fun part. Before he signs any paperwork, he wants to have written in the contract that he has access to his shed on the property. He basically wants to use the shed as a storage unit, where he can cram all of his things in there...nevermind the fact that there are actual storage units a few miles up the road. It's not next to the house, but still on the property. At first, he wanted to use it for the next 5 years because he couldn't get back to the area to move it out. We politely said, "Hell no, you have 6 months"...which we think was very generous. He came back and said he needed at least 1 year. We caved, and agreed....as long as he gives us 24 hours notice before coming onto the property. He will not agree to that, as he might need a tool that he keeps in there at a moment's notice. Reddit....what do we do? We are sick of dealing with him, the realtors are sick of dealing with him, his ex wife is sick of dealing with him. Even if we get past this speed bump, who's to say that he will agree to help with any necessary repairs after we sink hundreds of dollars into the inspections? At this point, we are ready to lose the deal. It's such a shame, because it's pretty close to our dream house. Thanks. EDIT: Since the Bot wants me to update my location, I will. I'm located in Northwest Pennsylvania, United States. EDIT EDIT: Since it has been brought up a lot, I'll also mention that if this does go through, the contract will state that we are not responsible for the contents of the shed, nor are we responsible for any injuries sustained while he is on the property. [link] [comments]  |
| Relocating. Need advice for how to buy a new house before selling current home. Posted: 09 Dec 2017 08:12 PM PST I currently owe about $43k on a house that I can reasonably assume that I will sell for around $100k. I have accepted a job offer an hour away from my home and I have found a house that I would like to purchase for $225k. I have no debt, excellent credit and my household income is $91,000. My current 10-year mortgage is $600/mo and I pay $800/mo to daycare. I would like to purchase this second house for $225k before selling the house that I still owe on. The reason I would like to do this is because I have a child and two large dogs so it would be difficult for me to find a rental if the selling/buying process didn't match up perfectly. Because I want to buy before I sell I really don't have much money to scrape together for a down payment. Would it impossible to get a mortgage in this situation without the down payment? I don't really know what my question is, I'm just looking for advice in general. Edit: this is near Madison, WI [link] [comments]  |
| Property tax reassessment after Jan. 1st Posted: 09 Dec 2017 08:32 PM PST I am in the process of purchasing my first home. I am in a 10 day option period, and something my realtor said a couple days ago is bugging me. I live in Texas and property taxes are brutal. I am worried that once the taxes reassess next year that I will be looking at a significantly higher monthly payment I could no longer afford. I plan to apply for Homestead exemption in 2019, since I won't close until Jan. 10, 2018 assuming all goes well. Can I expect my monthly payments to increase each year? I apologize if this is a dumb question, but for every question I figure out, five more seem to pop up! Thanks! [link] [comments]  |
| Looking for recommendations for tech savvy agents in Dallas area Posted: 09 Dec 2017 10:10 PM PST what's the best way to find some tech savvy agents who are not afraid to FaceTime with me for house showings? I feel it's a huge waste of time to fly there just to be seeing it in person. Can you guys PM me some agents to get in touch with? Someone good at negotiating and understands investors. [link] [comments]  |
| Posted: 09 Dec 2017 09:29 PM PST Home is a 1 level 3 bedroom (slab), 1.5 bath, town water/sewer. Oil heat, central ac [link] [comments]  |
| Posted: 09 Dec 2017 08:06 PM PST |
| Convert a Multi Family back to Single Family? Posted: 09 Dec 2017 07:22 PM PST Novice here, hoping to get some opinions from people with more experience I've been casually browsing the listings looking for a home when I came across a beautiful 100 year old property (I'm a sucker for historic houses) not too far from where I work (Indiana, USA). The asking price is $230,000 which is a bit higher than what I believe it to be worth as a home, but not insanely out of range The catch is that it is not currently a single home, but a 6 unit rental property. I had never even considered becoming a landlord, so my initial thought was to maybe pursue it if I could bring down the price a bit and renovate it back to a single family home, but I didn't want to reject the rental idea outright without some research I read some old threads here, as well as the wiki. From the spreadsheets I found, or even the 2% rule of thumb, it looks like this property would absolutely not work as a rental property at this price when average rents in the area are $600-$700 per month, over the past few years the house has only ever been 50% occupied at any given time (personal research) and property tax on 4+ unit rental properties is 5% (while ~1% on single family homes). The asking price would have to drop substantially to draw a profit for any potential buyer, which is most likely why this property has been for sale for some time without any bites However, I still feel it would be a great single family property with the right renovations to open it up inside. The only hurdles would be waiting out the current tenant contracts, and getting the city to reclassify the property as a single family home. I'm not well versed in law, so I'm not sure how hard that would be. I also think the loan process would also be complicated by this, as it would appear I'm trying to purchase a commercial property even if I have no intention of using it as such. Does anyone here have any nuggets of wisdom to share if you've done something similar? Or do you think I'm completely wasting my time or barking up the wrong tree? Any opinions would be greatly appreciated! [link] [comments]  |
| Can someone in their late 20's with poor credit and no money for a down payment get a house? [NH/MA] Posted: 09 Dec 2017 05:00 PM PST Basically the title. I rent an apartment in Maryland with my fiance and 1-1/2 year old child. We have another child on the way and want to move to Massachusetts or New Hampshire to be closer to family. We would prefer to buy a house for our growing family but do not know if this is even possible. Any advice? Edit: Would be a first time homebuyer and would also have someone with good credit as either a cosigner or would assist with down payment. [link] [comments]  |
| Planning on selling first house Posted: 09 Dec 2017 01:06 PM PST We bought our house when we were 21, now we're 33, kinda just looking for advice, anecdotes, confirmation. It's a shitty starter home, but desirable location. This is basically the closest comp in our area, our inside is nicer, but still small, old and no garage. Problems with house built in 1926:
Things it has going for it:
I was praying this thing would burn down but after 12 years, fate doesn't have it in the cards for me. We've debated over whether we should gut it and remodel/build an addition, tear it down and build something new, or sell it. It'd be $600k minimum (got multiple quotes) to tear down and build the ideal use of the property on top of the 180k we still owe, while market rent would be around ~$5k/mo today. We have around $400k-$500k equity we could use for construction. We'd owe $780k on a $1.2m place, which is the same equity if we just don't do anything and get out. For ~$100k, we could add an addition that would add a lot of square feet which translates to $$$$ in this market, but you still have a galley kitchen and small rooms for the majority of the house. Along with all the other problems. Thoughts?
We're planning to sell next spring/summer and go out of the city with equity to put towards something like this paying mostly cash or small loan of $100k, we don't have kids and would live in one of the units for a year or more while we figure out what we want to do, travel, then buy another place for ourselves and continue renting it out. My boss said if we bought a 4 plex and lived in a unit we can get the same capital gains tax exemption after 2 years (changing to 5 in tax law) as a house. Is that true? [link] [comments]  |
| Home owners insurance question? Posted: 09 Dec 2017 12:57 PM PST I'm looking to get the lowest rate on insurance for my duplexes. Right know I'm paying $1,100 for the two that I own. Non owner occupied, $46k with a $150k replacement cost and a $115k with a $250k replacement cost in Pittsburgh. What is the secret to getting a low annual payment, like $700? Can any insurance agency get me the same rates as any competing agency? I'm assuming they can all sell progressive, state farm... as they are brokers, so does it even matter what insurance agency I go with? [link] [comments]  |
| I would like to flip houses. How do I find the right home? Posted: 09 Dec 2017 04:31 PM PST I live in Florida. Do I contact a realtor and ask them to search for below market homes that can be fixed up a bit and sold? Or are most realtors not really willing to do that sort of work and prefer to focus on homes for regular buyers and not investors? Just interested in knowing how people who don't have access to the MLS find homes to do flips on. [link] [comments]  |
| What are my options re: foreclosure in NJ? Posted: 09 Dec 2017 03:50 PM PST So I'm in my 20s, living at home. Both of my parents died recently, and had two mortgages outstanding, one with a balance of about $200K, the other about 78K. The home is estimated to be worth about $530K, though it might be higher given some pretty extensive interior improvements over the years. The monthly mortgage payments haven't been paid since about April of this year (2017), and I've received stuff in the mail about the loan being accelerated, that it's in default, it's in the process of being referred to foreclosure, etc. What can I do here? I don't have enough savings to pay off the outstanding balances, and I don't want to lose my equity in the property, as I'm the sole heir. Any advice? [link] [comments]  |
| [TX] Bought house with brother three years ago, wanting to sell my half. Problems? Posted: 09 Dec 2017 11:30 AM PST In 2015 my brother and I settled on purchasing a house instead of both renting, its a very amicable situation and has been great. Recently, my girlfriend and I have decided we need more space and want to get our own place, as my name is on the mortgage and deed for the house we currently own this presents a problem in the way of financing the new house. I'm very lucky that my mother is willing to buy my portion out. All parties involved are agreed and their will be no push back from my brother. I have no real idea whats involved in this and was hoping to get some advice! [link] [comments]  |
| Posted: 09 Dec 2017 06:57 AM PST |
| [Colorado] Building a house - can an increased value since signing be used toward a down payment? Posted: 09 Dec 2017 01:58 PM PST We are building a home through a large home-building company and will close in about two months. We signed the contract almost a year ago, and expect that the house will have appreciated in the past year. Say we are paying $500k but the house appraises for $520k -- can that $20k be used as value toward our down payment? If we paid an $80k down payment, would that then mean we have $100k of down payment, meaning we've hit the 20% mark to avoid pmi? I'm having a hard time finding information on how this works. Thanks for any help! [link] [comments]  |
| First Time Seller, Question about Mold Disclosure and remediation (WI) Posted: 09 Dec 2017 08:50 AM PST As the title suggests I am a first time Home Seller. Here is my situation as of now: About a month ago (early November) I moved out of my first home in Wisconsin for a new position in Ohio. About a week after the house was put onto the market, my realtor held an open house. During the open house one my friends took a walk through the house and noticed something that looked like mold on the ceiling of one of our closets. I wasn't aware of any mold in the house and requested pictures. After viewing the pictures I scheduled a mold inspector and my realtor to go take a look to figure out what was going on. The mold inspector said that there was a small water leak from a vent in the roof. That no mold was discovered on the attic roof, that the mold site wasn't active and had been dry for some time, and that I should wipe the stained surface with white vinegar and conceal the water stains with paint. My realtor verbally told me that I do not need to disclose that the house had mold as there isn't active mold in the house. I had a mold remediation company come out to take a look and they believe that the drywall around the closet needs to be removed and replaced to fully remediate the problem. My current plan is to pay to have the leak around the vent in the ceiling fixed so the root cause of the problem is resolved. I also plan to reach out to another mold remediation company to get a third opinion on what I should do. Here are my questions: Should I disclose the fact that there was an active mold site? Should I follow the advice of the mold inspector and just clean off the surface and paint over it, or should I do as the remediation company suggested and pay them a couple thousand dollars to fix the problem. Any advice or thoughts would be greatly appreciated! Thanks! [link] [comments]  |
| Looking for an asset management program with app/Mac/pc cross platform sharing Posted: 09 Dec 2017 08:21 AM PST Was using excel but would like something that can project with charts, apply additional principle forecasts, and manage real estate, bank accounts, investments. Will to pay for software Thanks! USA-California/Nevada [link] [comments]  |
| Posted: 09 Dec 2017 11:45 AM PST Hey there. I'm looking for some mortgage advice. Specifically, what can I afford and when should I do it? We're a Software Engineer and Doctor-in-training moving to Denver. The spouse is entering medical fellowship (it's like the last stage of specializing). We're moving in June, have about $45k in the bank but we can probably get that to 55-60 by the time we move. My current salary is $115k and assuming I remain at my job working remotely, or find a similar paying one, our combined will be around $180k pre tax. The only debts we have are some of her school loans which set us back I think $1300 a month. We're probably looking for something with minimum 800-900 sqft and 2 bedrooms, but bigger priority being walkable and near parks, so places like Capitol Hill and Cheesman seem to fit the bill. Condos and houses are fine. We probably prefer condos to avoid the maintenance of a house and have something more central, but a cute small house is also appealing. Questions/Concerns: My wild guess is that we should look for something around $400k. We currently pay like $2.5k/mo in rent and being able to buy for anything less than that will make us very happy. I'm generally worried that we can't afford the mortgages since we don't have enough for the down payments. I've heard that there are programs that help doctors or first-time homebuyers afford down-payments. I also wonder how difficult it will be to secure anything with me not having a job lined up there yet. The current company I work at is very remote friendly, they know I'm moving, and I'm extremely confident I could get my boss to confirm in writing that I can be a remote worker. But even if I don't, is that a deal-breaker? When is a good time to start the process of buying something? Should we hold off until we have more saved? Thank you so much. [link] [comments]  |
| Posted: 09 Dec 2017 10:28 AM PST I have a house for sale (AZ) and I have a buyer that wants to pay my asking price using a 1031 and is self-financing. He isn't using a realtor and my realtor says that means I get to make a higher net (1% of what would normally be a commission - several thousand $). I have another buyer that is considering making a higher offer and is paying about 50% down and using traditional funding for the rest. My realtor tells me that my house is pretty much right at appraisal value and it could a problem with their financing if the second seller makes a higher offer and it appraises lower. This sounds strange to me since that buyer is putting a large portion as a down payment. Is this correct? [link] [comments]  |
| Posted: 09 Dec 2017 09:55 AM PST My wife and I are trying to decide what our forever home should be: new construction vs land with house we design built on it vs older house with renovations. We are moving from Long Island to upstate NY (Capital Region). We are going to put our house up for sale and expect to sell it for at least what we bought it for 515k or higher. If we do sell it for 515k after closing costs and paying the bank we will have around 115k to put towards our next home. My wife wants a newer construction or wants to buy land and have a house built on that land, I'm more open to an older home that can be renovated. We don't want an outrageous mortgage so we are looking at houses ranging from 200k-350k. I've asked friends and family about each option and everyone we've spoken to who isn't in real estate thinks new construction is way to go but I'm just not sure. Any advice on pros and cons on each type home purchase would be greatly appreciated. [link] [comments]  |
| Buying a condo with an ARM-- too much risk? [MS] Posted: 09 Dec 2017 09:06 AM PST First-time buyer. I'm under contract on a condo, but I wasn't aware that conventional mortgages aren't common for condos in my area (college town, no attached condos are Fannie May approved because so few are homesteaded). I've been offered 7-year locked and 10-year locked ARMs with good rates. I have excellent credit and 20% down. I have a knee-jerk distrust of ARM loans, but my realtor assures me that this is standard for condo purchases, and that I'll have no problem refinancing it or selling it at the end of 7 or 10 years. The property is not overvalued and even if the real estate bubble bursts again, college towns are generally well-insulated (2008 had little impact here). I'm naturally conservative and risk-averse, but am I crazy for having second thoughts? [link] [comments]  |
| Buying contingent on house sell Posted: 09 Dec 2017 08:54 AM PST Put an offer in on a house, our house is ready to be listed. Signed a contract that the sellers can continue to market the home til we get an offer...has anyone lost a house this way? Anyone have success? 😅 house is very outdated. They also want to sell the house as is but we are welcome to do an inspection, they just won't pay for anything getting fixed and we can back out after inspection if something expensive comes up. My husband can do just about everything construction wise so not afraid of work, just afraid of a tens of thousand dollars repair. Pittsburgh PA area. [link] [comments]  |
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